SHANGHAI, July 5, 2021 /PRNewswire/ -- Everest
Medicines (HKEX 1952.HK), a biopharmaceutical company focused on
developing and commercializing transformative pharmaceutical
products for patients in Greater
China and other parts of Asia, today announced that Spero Therapeutics,
Inc. (Nasdaq: SPRO), a licensing partner of Everest Medicines,
entered into a regional licensing agreement with Pfizer Inc. (NYSE:
PFE) for SPR206, Spero's intravenously (IV)-administered
next-generation polymyxin product candidate being developed to
treat serious multi-drug resistant (MDR) Gram-negative infections
in the hospital setting.
Under the terms of the licensing agreement, Spero has granted
Pfizer the rights to develop, manufacture, and commercialize SPR206
in ex-U.S. and ex-Asia
territories. In exchange for these rights, Spero is eligible to
receive up to $80 million in
development and sales milestones, and high single digit to low
double-digit royalties on net sales of SPR206 in these territories.
Pfizer has also made a $40 million
equity investment in Spero as part of the Pfizer Breakthrough
Growth Initiative, a program focused on funding innovative science
to meet patient needs.
Under a licensing agreement with Spero that was announced in
January of 2019, Everest Medicines has exclusive rights to develop,
manufacture and commercialize SPR206 in Greater China, South
Korea and certain Southeast Asian countries (the
"Territory") for the treatment of multi-drug resistant (MDR)
Gram-negative bacterial infections. The licensing agreement was
amended in January 2021 for the
assignment of relevant patents for SPR206 in the Territory to
Everest. This license agreement between Spero and Pfizer will have
no impact on Everest's rights for SPR206.
"This deal reinforces the potential for SPR206 to serve as an
innovative treatment option for MDR Gram-negative bacterial
infections, which is a critical ongoing global public health
issue," said Kerry Blanchard, MD,
PhD, CEO of Everest Medicines. "Pfizer is a leader in the
anti-infective therapeutic space, and Pfizer's decision to partner
with Spero on this important asset is a testament to Everest's
strategic approach to choosing promising and valuable
development-stage global assets. We look forward to contributing to
the broad and rapid clinical development of SPR206 as we work to
address the challenges of MDR Gram-negative bacterial
infections."
About SPR206
SPR206 is a potentially best-in-class, novel polymyxin
derivative that was designed to reduce the kidney toxicity that is
seen clinically with polymyxin B and colistin. Polymyxins are
antibiotics frequently used as a last resort for challenging MDR
gram-negative infections, but they are associated with significant
neurotoxicity and nephrotoxicity. In a double-blind,
placebo-controlled Phase 1 clinical trial in healthy volunteers
conducted by our partner Spero Therapeutics, SPR206 appeared well
tolerated at doses likely to be within a therapeutic range for MDR
Gram-negative bacterial infections. Importantly, it also showed no
evidence of nephrotoxicity at the doses tested.
About Everest Medicines
Everest Medicines is a biopharmaceutical company focused on
developing and commercializing transformative pharmaceutical
products that address critical unmet medical needs for patients in
Greater China and other Asian
markets. The management team of Everest Medicines has deep
expertise and an extensive track record of high-quality clinical
development, regulatory affairs, CMC, business development and
operations both in China and with
leading global pharmaceutical companies. Everest Medicines has
built a portfolio of eight potentially global first-in-class or
best-in-class molecules, many of which are in late stage clinical
development. The Company's therapeutic areas of interest include
oncology, autoimmune disorders, cardio-renal diseases and
infectious diseases. For more information, please visit its website
at www.everestmedicines.com.
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SOURCE Everest Medicines